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Reflection and Discussion ;Segmentation

by | May 20

Define segmentation is the process of dividing a market of potential customers into groups, or segments, based on different characteristics. The segments created are composed of consumers who will respond similarly to marketing strategies and who share traits such as similar interests, needs
Topic for Reflection – Segmentation
Learning Objectives for Reflection:
Define segmentation and describe its importance.
Identify the information and factors required to establish the bases for segmentation.
Understand the criteria underlying the segmentation of the market and what the indicators of good segmentation are.
Reflect on the assigned readings for the week. Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding.
Also, provide a graduate-level response to each of the following questions:
Say you’ve got a friend who is an entrepreneur. She’s making the best software, wine, or whatever, that the world has ever seen. She is certain that everyone will like her new product, so she thinks your idea about segmentation is not necessary. How can you convince her and help her with her business.
Discuss how you might obtain data to segment visitors to your city’s public parks, by day of week and time of day? What would you expect to find ?
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Assignment
Why do you think market segmentation is important and what impact could it have on a company? Does a successful company need to segment at all? Identify four different products that represent market segmentation based on demographic, geographic, psychological, and behavioral features and discuss how each product’s advertising reflects this segmentation.
The assignment is to answer the question provided above in essay form. This is to be in narrative form and should be as thorough as possible. Bullet points should not to be used. The paper should be at least 1.5 – 2 pages in length, Times New Roman 12-pt font, double-spaced, 1 inch margins and utilizing at least one outside scholarly or professional source related to marketing management. The textbook should also be utilized. Do not insert excess line spacing. APA formatting and citation should be used.
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